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This Power-Plant Builder Jumps To Record High On AI Tailwinds
  
Argan ( AGX) stock jumped to an all-time high Monday after a JPMorgan Chase upgrade that called the heavy construction company an underappreciated piece of the AI buildout.
JPMorgan raised Argan to overweight from neutral and lifted the price target to 315 from 220. That implies a move of up to 8% from its current share price of 291. Analysts also placed the stock on Positive Catalyst Watch ahead of the third-quarter earnings report, which is likely to be announced in early December.
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?Gen Z’s Blue-Collar Revenge On The AI Era
Argan and subsidiary Gemma Power Systems are underappreciated beneficiaries of the accelerating demand for electricity to power artificial intelligence applications, TheFly.com quoted from the JPMorgan report. A record backlog with large-scale gas projects in the U.S. and "unprecedented" pricing in the gas turbine market should result in multiyear growth and margin expansion.
Analysts polled by FactSet expect current-quarter earnings per share of $1.77, a decline of 11% after a tough year-ago comparison. Analysts expect sales to ease 1% to $254.5 million. For the fiscal year ending in January, analysts expect EPS of $7.83, up 27.4%, with sales up 9% to $953 million.
Argan Builds Plants For AIArlington, Va.-based Argan is a heavy-construction company that specializes in power-generating plants. It also works on telecom and industrial construction projects. The company is one of the leaders in the heavy construction industry group, which is in the top 15 out of 197 groups thanks largely to a wave of data-center construction.
Argan has a strong IBD Composite Rating of 97. Its perfect EPS Rating of 99 is the highest in the industry group, along with Sterling Infrastructure ( STRL).
The stock broke out of an undefined base on Sept. 18. Shares are extended from the 253.79 buy point, according to MarketSurge pattern recognition. Its relative strength line is at new highs, a positive indication for Argan stock.
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